“Why I Moved to Lagos — and Why I’m Still Investing Here” REAL ESTATE TREND ALERT
(FOR MEMBERS ONLY)  | | RONAN
MCMAHON | Dear Reader, Today we hear from RETA members about buying in our killer deals in Lagos, Portugal. Why did they buy? Was it easy? How did it work? More below, but first, to remind you... For years, my team and I have been tracking Lagos as it quietly evolved into one of Europe’s rarest things: a true top-tier boutique beach and marina destination — one that sophisticated buyers want to own in and high-end renters actively seek out. Now opportunities are vanishing. The big money of luxury travel is committed and the last prime land has been snapped up. But we have an off-market deal... | | | | I expect gains of €292,5000 just three years after delivery with our large luxury condos in Marina Residences, and our rooftop amenities will be a huge draw for renters. (Developers renders shouldn’t be considered final but give us a great idea of what to expect.) | On Wednesday, Jan. 28, at 1:00 p.m. ET, I open access to what may be the last real chance to buy premium real estate in the walkable heart of Lagos at RETA-grade prices: - I expect gains of up to €292,500 just three years after delivery
- I figure on gross rental income of roughly €76,500 per year once the community is established
- Portuguese bank financing is available to foreigners like us — up to 70% loan-to-value, at rates as low as 2.3%
- Our building is Marina Residences, right next to the marina on the third-most expensive street in Portugal, a walk to the beaches and the old town... and with rooftop amenities that you just don’t find in Europe.
We’ve focused on Lagos precisely because it meets the highest bar: marina access, historic charm, true walkability, year-round livability and deep international demand. These are the same ingredients that pushed places like Antibes, Palma and San Sebastián into seven-figure territory long ago. RETA members who bought in our Lagos deals have already been rewarded: - Next to Marina Residences is Dona Maria, where in August 2021 RETA members could own two-bed condos from €575,000. A two-bed condo there has since listed for €849,000. That’s €274,000 more
- One RETA member purchased a penthouse in Dona Maria for €1.1 million. In 2024 the penthouse listed at double that — €2.2 million
- In 2019 RETA members could buy a two-bed condo in the Santa Maria community. Our RETA-only price was from €310,500. In March 2025, a two-bed condo in Santa Maria was listing for €725,000. That’s an astonishing uplift of €414,500
- From Santa Maria, real short-term rental performance in 2025 shows annual income of €76,500 for a two-bed condo — roughly $89,000 at today’s exchange rates as I write this
- From another deal we had, in a building called Adega, a RETA member shared that his purchase in 2021 at €355,000 produced steadily rising rents — up 24% year over year by 2025 — before selling for €540,000, delivering strong income and more than 50% capital appreciation in euros.
| | | | With our Lagos deals, we’ve focused on premium real estate in prime locations. Marina Residences is next level with its roof-top amenities and marina-adjacent location. But it’s likely our last deal given how Lagos has now emerged fully as a blue chip destination. | Our RETA results weren’t luck. They were smart positioning, as Lagos has steadily moved up the European luxury hierarchy. Marina Residences is the next chapter in that story. It marks an evolution. A new standard. Lagos’ definitive arrival in the top tier. The community brings together the town’s best address and a level of design and amenities that sets a new standard for luxury. A landmark for European coastal luxury. RETA member Patty Farmer, whose story you’re about to read, bought right next to Marina Residences in Dona Maria. She didn’t just invest in Lagos — she moved there, lived the lifestyle, captured significant upside and then reinvested. I’ll let her tell you why... Wishing you good real estate investing, | | | Ronan McMahon P.S. Our deal opens on Wednesday and if you have yet to read my deal briefing, I urge you to read it right now. Read the deal briefing. Why I Moved to Lagos — and Why I’m Still Investing Here By Patty Farmer My experience is perhaps not the norm. I’m an international real estate investor and a RETA member, and I’ve followed Ronan’s advice for many of my investments. About eight years ago, Portugal began appearing on investors’ radars, so I started my due-diligence process. Whenever I evaluate a country, I look closely at fundamentals like tax structure, ease of entry, GDP growth, employment trends, availability of trusted real estate professionals and more. Portugal checked all the boxes. I rarely visit where I’m investing. If the numbers work, they work, and there’s no need for me to get personal with the property. This formula has served me well worldwide and around the U.S. in all my deals. But with Lagos, I had the chance to visit and when I did, I fell in love with it. The beaches... the marina... the historic old town... the walkability — it’s a truly special place. I always dreamed of living in Europe and at that point thought: If not now, when? So I made the decision quickly and moved halfway around the world to Portugal. The home I chose was an off-plan condo, which gave me time to sell my U.S. property and prepare for the move. I’d read countless stories online about how complicated relocating overseas can be, but that simply wasn’t my experience. I decluttered aggressively — sold or gave away most of my furniture — and brought mainly clothes and a few cherished items. I think many people make the mistake of bringing far more than they’ll ever need. My initial business plan in Lagos was straightforward: buy a home to live in — a beautiful three-bedroom penthouse in the Adega community — plus some other properties to rent and others to hold for appreciation. What I didn’t anticipate was just how quickly prices would rise. Values appreciated faster and further than expected. I took profits — substantial profits — on every investment. I even sold the penthouse I was living in. Because I believe strongly that Lagos’ appreciation story is far from over, I reinvested those gains into additional properties, including a new personal residence: a four-bedroom penthouse with spectacular views in the Dona Maria community overlooking the marina. I chose not to buy a car after moving to Lagos — something that’s been great for my health — and the location by the marina made that easy. Lagos is exceptionally walkable. And when I don’t feel like walking, Uber and Lyft are readily available. | | | Lagos is so walkable, and outdoor living is a pleasure. You can easily craft a daily routine involving the beach, the ocean and great food. Pictured is Batata beach, just 20 minutes’ walk from Marina Residences along the town’s luxury artery. More photos in my deal briefing. | Within a few blocks of my home, I have major supermarkets, a twice-weekly farmers’ market, a train station, doctors, pharmacies, churches, a vet and more excellent restaurants than I could ever exhaust. People often ask what risks concerned me before buying... Honestly, I didn’t perceive any more risk than purchasing back home. I found no meaningful difference between buying real estate in Portugal and in the U.S. The properties I’ve bought in Lagos have been in the €300,000–1.5 million range. And one of the pleasant surprises — which I confirmed by research before buying — was how reasonable property taxes and ongoing ownership costs are, even when you own luxury properties here. It sounds trite but one regret I have is not investing here sooner. It was the perfect time to relocate — but I would have bought even more property earlier if I’d fully appreciated how this market would unfold. So now I’m making up for lost time. Best regards, Patty Farmer
RETA member P.S. Ronan says: Patty makes a great point about the low holding costs in Portugal, even on prime luxury property like Marina Residences. And it’s so easy to do business, whether that’s locking in a low-rate mortgage with a local bank or dealing with a property manager. You’re dealing with English-speaking professionals who make hands-off ownership exactly what it should be: straightforward, pleasant — positively relaxing. Lawyers, banks, rental managers, interior designers — you name it. Portugal has a deep bench of capable, reliable people who know how to work with international buyers. Just ask another RETA member, Brad Constanzo, who bought in Lagos too. Brad sent this short video sharing his experiences. | | | Brad bought in Lagos without ever even visiting Portugal... in his video he shares his experiences. | P.P.S. Our deal opens Wednesday, Jan. 28, at 1:00 p.m. ET. If you’ve read the deal briefing and want answers to your questions ahead of Deal Open Day, then contact Smart Money Homes here. They have years of experience helping RETA members and are representing the developer in this deal. You can also tune into the exclusive Paradigm Press broadcast I’m having with Doug Hill on Tuesday, Jan. 27, at 1:00 p.m. — 24 hours before our deal opens. If you’d like, you can get ahead of the Zoom event by asking your question here. | |
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